President Donald Trump on Friday named Kevin Warsh to succeed Jerome Powell as Federal Reserve chair, ending a prolonged odyssey that has seen unprecedented turmoil around the central bank. The decision culminates a process that officially began last summer but started much earlier than that, with Trump launching a fusillade …
Federal Reserve Governor Lisa Cook‘s job seemed safe from firing by President Donald Trump after Supreme Court justices skeptically questioned the Trump administration’s lawyers on Wednesday about the grounds for Cook’s would-be termination and its effect on the Fed’s historical independence. Justice Brett Kavanaugh warned Solicitor General D. John Sauer …
Milorad Kravic | E+ | Getty Images For many consumers, buying a car increasingly comes with a hefty monthly bill. The share of new-car buyers who pay $1,000 or more per month for their auto loans rose to a record 20.3% of all new vehicle purchases financed in the fourth …
Federal Reserve chair Jerome Powell speaks at a press conference following the Federal Open Markets Committee meeting at the Federal Reserve on Dec. 10, 2025 in Washington, DC. Chip Somodevilla | Getty Images The Justice Department’s criminal investigation of Federal Reserve Chair Jerome Powell may, at first glance, seem far …
The Federal Reserve cut its benchmark rate by a quarter point at its last meeting of the year. December’s move marks the third time in a row the central bank has lowered interest rates, shaving three-quarters of a point off the federal funds rate since September to a range of 3.5% to …
The Federal Reserve’s rate decision on Wednesday is shaping up to be its most consequential of the year, with most economists predicting the first cut of 2025. The real suspense is over how deep the reduction could be — and whether the Fed might signal a broader pivot that could …
This may not be an era in which Americans are awash in physical currency fattening their wallets, but we are awash in cash parked inside accounts that have been generating attractive yields thanks to Federal Reserve interest rate hikes to combat inflation. There is a record amount of cash in …
U.S. Federal Reserve Chair, Jerome Powell and U.S. President Donald Trump. Annabelle Gordon | Kevin Lamarque | Reuters If President Donald Trump tries to fire Federal Reserve Chair Jerome Powell, it would almost certainly set off a courtroom battle that legal and policy experts say is bound to get messy, …
Annabelle Gordon/Bloomberg via Getty Images The massive package of tax cuts House Republicans passed in May is expected to increase the U.S. debt by trillions of dollars — a sum that threatens to torpedo the legislation as the Senate starts to consider it this week. The Committee for a Responsible …
Vindication? In the span of 24 hours, the “buy America” trade is back on and the odds of a U.S. recession have dipped. And pressure on the Fed to cut interest rates has abated despite the uncertainty surrounding Tuesday’s Consumer Price Index report. That has made Jay Powell one of …